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Oct 8, 2013
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every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying the affordable care act to raising the debt ceiling. you just did it. >> no, i mean, i -- you're -- i'm not -- we've got two issues here. the continuing resolution, the proposals i talked to about the affordable care act are connected with the continuing resolution. what i've told you with the debt ceiling is that we ought to focus on bringing spending reductions to the table like we have done with every major -- every president over the last 30 years. we ought to do it now, too. frankly, i think, though, it's way bigger than that for america. we're at a point now where the president and harry
every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying...
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Oct 18, 2013
10/13
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he put him in charge of getting everybody to vote to raise the debt ceiling every time they needed to. josh green wrote about this week at "bloomberg businessweek." now, the way that system worked, it was a two-step process for congress. first, they'd stop to pass a budget. then they would have a separate second vote they would have to take to raise the debt ceiling in order to accommodate all of that spending the they just voted more if these were two separate votes. number one, do you want to buy this stuff, and number two, do you want the money to pay for that stuff you said you would just buy. in 1979, in charge of getting that second really annoying vote, dick gephardt said, let's not do this anymore. this is a terrible job. everybody wants to spend the money, but nobody wants to raise the debt ceiling to get the money to pay for it. so what we're going to do, when we have the first vote. when we pass the budget saying how much we want to spend on stuff, we are just going to say the second vote happened too. we will just deem implicitly that the debt ceiling has also risen by tha
he put him in charge of getting everybody to vote to raise the debt ceiling every time they needed to. josh green wrote about this week at "bloomberg businessweek." now, the way that system worked, it was a two-step process for congress. first, they'd stop to pass a budget. then they would have a separate second vote they would have to take to raise the debt ceiling in order to accommodate all of that spending the they just voted more if these were two separate votes. number one, do...
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Dec 20, 2013
12/13
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inquiries, every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the country. >> we, as a caucus, along with our senate couldn't parts, are going to meet and discuss what it is we want to get out of the debt limit. we don't want nothing out of this debt limit. we're going to decide what it is we can accomplish out of this debt limit fight. >> what all this amounts to is what an old basketball coach of mine used to call down the block tough. you're familiar with the concept of down the block tough, if not the phrase. it's when you start jawing with someone or get into a little fisticuffs and after you've walked away you say, yeah, and your mother. this is what has happened in the last three months to the republicans. they got their clock cleaned by the shutdown, and had to capitulate fully and completely to the initial offer, having gained nothing but a lot of bad feelings from the country. and the disaster of is that incident completely discredited the central tactic the gop has been using since the big fight back in 2011, w
inquiries, every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the country. >> we, as a caucus, along with our senate couldn't parts, are going to meet and discuss what it is we want to get out of the debt limit. we don't want nothing out of this debt limit. we're going to decide what it is we can accomplish out of this debt limit fight. >> what all this amounts to is what an old basketball coach of mine used to call...
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Dec 20, 2013
12/13
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inquiries, every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the countr
inquiries, every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the countr
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Jan 19, 2013
01/13
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you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save the next election. if your conservative philosophy is indeed right, winning will come. joining me now, robert costa, and dave weigel, both of them doing great reporting, i appreciate you being here. robert, i want to start with you, tell me the thinking behind the three-month extension, why three months? >> a lot of it has to do public relations, i think what i heard from the retreat, and members in the room, they want to start to win the pr battle again, to do it they have to take the debt limit off the table, and fight with spending in regard to th
you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save...
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Dec 18, 2013
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. >> every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the country. the debt ceiling legislation is a time that brings us all together and gets the president's attention. i can't imagine it being done clean. we'll have to see what the house insists on adding to it as a condition for passing it. >> brings us all together in fractious fighting. paul ryan has one idea, the keystone pipeline. so does ron johnson. tax reform and, quote, freedom in health
. >> every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the country. the debt ceiling legislation is a time that brings us all together and gets the president's attention. i can't imagine it being done clean. we'll have to see what the house insists on adding to it as a condition for passing it. >> brings us all together in fractious fighting. paul ryan has one idea, the keystone pipeline. so does ron johnson. tax...
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Oct 16, 2013
10/13
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ceiling showdowns that repeat every quarter or year or 18 months indefinitively. i want to ask what's most concerning in your mind about this never-ending carnival if this is what we keep doing? >> that's a really good question. it's something that's fundamental to the debate ongoing the last few years. democrats and republicans understand the importance of economic growth and bringing our fiscal house in order. cbo has put out a statistic that if gdp growth over the next ten years were just below one tenth of one percent, that would add $300 billion to the deficit over ten years. that is an amount that is double what the budgetary impact would be of the cpi proposal that would reflect inflation adjustments and other government programs. so there are very deeply held views about how best to bring about that economic growth that is so important. and those fundamental divides are major i am pedmentes to progress forward between the two parties. >> it's so much more fun to stick it to the seniors, economic growth, come on. >> a lot of people are saying that the repub
ceiling showdowns that repeat every quarter or year or 18 months indefinitively. i want to ask what's most concerning in your mind about this never-ending carnival if this is what we keep doing? >> that's a really good question. it's something that's fundamental to the debate ongoing the last few years. democrats and republicans understand the importance of economic growth and bringing our fiscal house in order. cbo has put out a statistic that if gdp growth over the next ten years were...
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Jan 24, 2013
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for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a bipartisan effort. look, if you look at the goal, we've got to get our fiscal house in order, we've got to balance the budget, and in order to do that, the senate actually has to produce a budget, which they haven't done in nearly four years. the house has had budgets for each of the last two years that actually get to balance. so what we did, in this bill, is to say to the senate, look, you've got to do a budget. families do budgets, businesses do budgets, employers do budgets. the senate has not done a budget in nearly four years, so this is the challenge for th
for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a...
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Dec 21, 2013
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every time the president asks us to raise the debt ceiling, it's a good time for to us achieve something important for the country. >> i hear that, john, here we go again. that was what was behind the paralysis this past fall the summer of 2011, attaching a list of demand to the debt ceiling. is that something, do you think republicans are actually going to go down that road again or are those republican politicians trying to apasadena their base for the moment and not actually go through with it? >> no, i think they willf i think republicans don't know what they want. ted cruz wants to fight over obama care. others want to use it to create more cuts to spending. others want long term debt relief. right now they're a bit fractured. if they come, if they settle on a set of things, absolutely, they will see another fight. whether or not they go like they did if 2011 up to the dead lean and actually push past it a little bit, it caused a huge problem internationally. >> that remains to be seen. that i do look at this as a great pressure point, rob emanuel said crisis is a great time to do s
every time the president asks us to raise the debt ceiling, it's a good time for to us achieve something important for the country. >> i hear that, john, here we go again. that was what was behind the paralysis this past fall the summer of 2011, attaching a list of demand to the debt ceiling. is that something, do you think republicans are actually going to go down that road again or are those republican politicians trying to apasadena their base for the moment and not actually go through...
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Jul 24, 2013
07/13
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every time we've increased the debt ceiling with a couple of exceptions, something has been given in return that heads us toward at least a slightly better way. i don't -- i think there's an imperfect tool but it is a tool. this idea that we won't continue to fund the government if there's any money in health and human services to implement any of obama care. there's nothing in their now i don't think that specifically inplimts obama care but the secretary has money that she's been able to find to do implementation. we've got to come up with solutions here that are reasonable. you've got to realize this is a divided government. >> you believe mike lee's proposal is unreasonable? >> i think holding the debt limit hostage to any specific thing is probably not the best negotiating place. where we ought to be now is -- we need more spending cuts. they need to be at probably on the mandatory side rather than the discretionary side. i think that's the formula that obviously allows us to move forward most easily here. let's find spending cuts where the money are. let's get the progaps we re
every time we've increased the debt ceiling with a couple of exceptions, something has been given in return that heads us toward at least a slightly better way. i don't -- i think there's an imperfect tool but it is a tool. this idea that we won't continue to fund the government if there's any money in health and human services to implement any of obama care. there's nothing in their now i don't think that specifically inplimts obama care but the secretary has money that she's been able to find...
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Dec 18, 2013
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. >> every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the country. the debt ceiling legislation is a time that brings us all together and gets the president's attention. i can't imagine it being done clean. we'll have to see what the house insists on adding to it as a condition for passing it. >> brings us all together in fractious fighting. paul ryan has one idea, the keystone pipeline. so does ron johnson. tax reform and, quote, freedom in health care. although, it's unclear if that means anything. but it would be lacking if it did not feature senator ted cruz who yesterday told buzz feed, i'm hopeful we will use every leverage point available to try and turn this country around and pull back from the fiscal and economic cliff we find ourselves in. side note, ted cruz appears to be buried in the side of a mountain. this time "the new york times" noted that the budget deal offered little solace to competing ends of the ideological spectrum that saw the budget deal as a craven capitulation. exhibit a, mitch mcconnell primar
. >> every time the president asks us to raise the debt ceiling is a good time to try to achieve something important for the country. the debt ceiling legislation is a time that brings us all together and gets the president's attention. i can't imagine it being done clean. we'll have to see what the house insists on adding to it as a condition for passing it. >> brings us all together in fractious fighting. paul ryan has one idea, the keystone pipeline. so does ron johnson. tax...
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Feb 16, 2013
02/13
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ceiling but for every dollar we raise that debt ceiling, we'll lower spending by a dollar. so i am in favor of keeping that agreement. >> but keeping that agreement, if the sequester goes into effect, according to the cbo, it says it will cut u.s. growth in half. it will cost at least 1 million jobs and jobs by extension, consumers, which drive the economy. don't you agree that losing 1 million jobs will be disastrous to the recovery? >> if you turn just to the cbo, the stimulus of three years ago would have solved all of our problems and we would not have had all the difficulties we have today. would have led to tremendous gdp growth. neither does the cbo ever report or take into consideration the impact the huge debt has on the growth of our gdp and job creation. we can have a philosophical fight about whether or not you can cut your way to prosperity as the president says or spend your way to disaster, as i contend. but that's not the issue here. the issue here is that we agreed 18 months ago for a dollar's worth of spending reductions for every worth of dollar increase.
ceiling but for every dollar we raise that debt ceiling, we'll lower spending by a dollar. so i am in favor of keeping that agreement. >> but keeping that agreement, if the sequester goes into effect, according to the cbo, it says it will cut u.s. growth in half. it will cost at least 1 million jobs and jobs by extension, consumers, which drive the economy. don't you agree that losing 1 million jobs will be disastrous to the recovery? >> if you turn just to the cbo, the stimulus of...
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Jan 21, 2013
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and so the fact that they have backed off both -- not only the idea that we should hold debt ceiling hostage, but second that it shouldn't be one for one cuts, you know, boehner used to say that, the house proposal doesn't say that, dollar in cutting for every dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive step. >> you never get a clean debt ceiling raise. >> yes, you should. >> that's not a question of whether you should. but historically it's not been the case. >> mitch mcconnell proposed it two years ago and we passed it. but let me say this on the budget. we democrats have always intended to do a budget this year. for two reasons. first, it is not true that we haven't had budget control in effect over the last several years. the budget control act of 2011 put rigid spending cuts that are in effect -- that were in effect last year. we cut $1 trillion. we didn't like it. it was much more of a republican type
and so the fact that they have backed off both -- not only the idea that we should hold debt ceiling hostage, but second that it shouldn't be one for one cuts, you know, boehner used to say that, the house proposal doesn't say that, dollar in cutting for every dollar in raising the debt ceiling. >> would you support a short-term measure to force you to pass a budget? >> i think it should be longer because we don't want to play fiscal cliff every three months. but it's a positive...
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Oct 9, 2013
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around that you hear on every newscast that if we don't raise the debt ceiling we will default on our debt. we won't. >> we won't, why would we? senator r senator tom coburn is saying what is an increasingly normal thing for republicans say. from orrin hatch to rain paul to pat toomey have all said they think it is possible to hit the debt ceiling for the first time in history, it is possible for us to blow through it but avoid economic catastrophe anyway because we can skillfully -- there is no mechanical kim for doing that, the treasury department that would be responsible for doing it says that it cannot be done. even if it could be done, an estimate from deutsch bank analysts that was published by "the washington post" today projects that that idea, even if it were possible, even if it were true, they project that that idea would drop 1,500 points off the stock market right away. it would reduce the economic growth in this country by 4.12% and that's if the magic we won't default scheme is possible. which it probably isn't possible. but republican senator richard burr says getting
around that you hear on every newscast that if we don't raise the debt ceiling we will default on our debt. we won't. >> we won't, why would we? senator r senator tom coburn is saying what is an increasingly normal thing for republicans say. from orrin hatch to rain paul to pat toomey have all said they think it is possible to hit the debt ceiling for the first time in history, it is possible for us to blow through it but avoid economic catastrophe anyway because we can skillfully --...
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Jan 12, 2013
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dollar for the debt ceiling? >> well, there will be rules and demands but i think the discussion about the trillion dollar coin shows how cheesy things can get. we have a situation where we have this discussion, kind of discussion and you it's a kind of thing that really makes you wonder about the dignity of the united states government. >> is the president there, bob? is that hail to the chief? >> guess who didn't turn off his phone. >> and now we know your ring tone. robert, last question to you. the debt ceiling. >> it's a great question. i think republicans are manning the barricades, they are going to the demand spending cuts. we know that the president said that he will not negotiate with house republicans as this debt ceiling approaches. remember, represents are under political pressure, especially the speaker of the house. because republicans are frustrated about how the fiscal cliff went, to now they are looking at the debt ceiling. >> we will watch and see, i love that we got to find out that bob franke
dollar for the debt ceiling? >> well, there will be rules and demands but i think the discussion about the trillion dollar coin shows how cheesy things can get. we have a situation where we have this discussion, kind of discussion and you it's a kind of thing that really makes you wonder about the dignity of the united states government. >> is the president there, bob? is that hail to the chief? >> guess who didn't turn off his phone. >> and now we know your ring tone....
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Dec 22, 2013
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debt ceiling is a good time to try to achieve something important for the country. >> we don't want nothing out of this debt limit. we're going to decide what it is we can accomplish out of this debt limit fight. >> once again, the cuckoo caucus, aka the tea party and outside tea party groups will have their back. in fact, they view this fight as just the beginning of a resurgence of power for the tea party. this is a time to regroup, rejuvenate and reorganize. as "the washington post" reported this week, while the cuckoo caucus prepares to return in january, outside groups like the coke backed americans for prosperity are also prepping for a long fight into the 2014 mid-term elections. they describe americans for prosperity head tim phillips on a recent trip to south carolina, quote, he talked about the need for more money, the need for more volunteer time, for more, quote, professional, motivated, numerous grass roots army. and, alas, they've got it. despite what the polls say the departy isn't demoralized at all. as one tea partier put it in the post boehner's comments attacking
debt ceiling is a good time to try to achieve something important for the country. >> we don't want nothing out of this debt limit. we're going to decide what it is we can accomplish out of this debt limit fight. >> once again, the cuckoo caucus, aka the tea party and outside tea party groups will have their back. in fact, they view this fight as just the beginning of a resurgence of power for the tea party. this is a time to regroup, rejuvenate and reorganize. as "the...
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Oct 8, 2013
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the point is that the debt ceiling was going to be raised. let me just amplify some of the points. it's true that we don't know exactly what it will do. i bet you it would be really terrible. every economist you can talk to will tell you that interest rates will rise. anyone who is thinking about lending money to someone who got close to default would insist on a higher interest rate. now you have screwed up the bond market. you couldn't pay the debt service on the deficit any more. we would have to cut spending pretty quickly if this dragged on at all. this would take recovery into recession. bad for the bond market, bad for the stock market. >> the debt ceiling or debt limit has a bad name debt limit sounds like a good thing. sounds like you had a good limit on debt. without that cliff attached to it as bernanke did, without that little verbal trick, it would have been very hard to exprez to people that something dangerous was coming. making them realize that they have some serious risks in this if they have mortgages and car loans. >> it's a terrible name and idea. we should get
the point is that the debt ceiling was going to be raised. let me just amplify some of the points. it's true that we don't know exactly what it will do. i bet you it would be really terrible. every economist you can talk to will tell you that interest rates will rise. anyone who is thinking about lending money to someone who got close to default would insist on a higher interest rate. now you have screwed up the bond market. you couldn't pay the debt service on the deficit any more. we would...
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Oct 10, 2013
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>> if and buts were can be enoughs every day would be christmas. >> debt threats. if congress can't strike a deal, treasury secretary jack lew has this message for the lawmakers flirting with that fiscal cliff. >> we've never been there and i thinyo
>> if and buts were can be enoughs every day would be christmas. >> debt threats. if congress can't strike a deal, treasury secretary jack lew has this message for the lawmakers flirting with that fiscal cliff. >> we've never been there and i thinyo
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Jan 19, 2013
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ceiling unless we have every dollar of the debt ceiling goes to spending of that same amount. they've conceded they're going to extend the debt ceiling without any cuts. but that moves us to now where government funding expires on march 31th. at that point, we'll have a s w showdown in which republicans insist on spending cuts. there will still be some kind of fight. we will have a clock to some kind of catastrophic event that could happen, like we had in december. but it would not be with the debt ceiling. the republicans seem to have conceded to the obama. they're worried that obama has the stronger hand on that particular issue. >> what do you think the gop strategy is here, shirra? >> i think they realize that their caucus cannot handle another divisive fight. there are too many factions within the caucus. they don't want another public fight about it. so they're kicking the can down the road and hope things will be more in their favor by then. >> i spoke to some folks on the set this morning, one of whom said they think it's going to be kick the can down the road again, e
ceiling unless we have every dollar of the debt ceiling goes to spending of that same amount. they've conceded they're going to extend the debt ceiling without any cuts. but that moves us to now where government funding expires on march 31th. at that point, we'll have a s w showdown in which republicans insist on spending cuts. there will still be some kind of fight. we will have a clock to some kind of catastrophic event that could happen, like we had in december. but it would not be with the...
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Jan 19, 2013
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and the republican view, the boehner rule is, every dollar in spending, every dollar for the debt ceiling go up has matched by spending cuts. they have backed down from that view, in terms of having a three-month extension, that is because of the polls showing the president has the upper hand on the issue. >> do you think we are witnessing a strategy shift inside the gop? >> they have to have a strategy shift, you said that was the key thing that was coming out of the conference. we know that they are probably talking about appealing to minority voters and getting women back on track. >> isn't that a conference they have in gop meetings every two years? >> i don't think the conversation that is real. but now it's how to resonate with the constituents they are trying to appeal to. >> it's a time of rethinking for the republican party. what i was struck by was paul ryan's role. telling them that they have to have a strategy. and that they have to tread carefully right nowity upcoming fights. >> one of the things that was announced the rebranding of the campaign group, obama for america, and
and the republican view, the boehner rule is, every dollar in spending, every dollar for the debt ceiling go up has matched by spending cuts. they have backed down from that view, in terms of having a three-month extension, that is because of the polls showing the president has the upper hand on the issue. >> do you think we are witnessing a strategy shift inside the gop? >> they have to have a strategy shift, you said that was the key thing that was coming out of the conference. we...
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Aug 24, 2013
08/13
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the debt ceiling is a worse idea. house leadership is engaged in political wink wink theater where they effectively have to entertain every single harebrained idea that the right flank has to placate them. the question is, at the end of the day, can they bring them back from the brink? we saw john boehner fail there. his grasp seems to be loosening. . you would think that something would bring them back from the precipice, but i think the country, we get less and less convinced by the day that anybody's in charge here and that anybody has their hands on the captain's wheel. >> support for government shutdown is evaporating over the weekend. tea party, rand paul stated it plainly. shut down is a bad idea he said and we'll take a listen to him. >> i don't think shutting down the government is a good idea. but i do think we were elected, conservatives were elected to stop this overreach, this government takeover of health care. we should use the leverage of controlling part of government to get the law more to our liking
the debt ceiling is a worse idea. house leadership is engaged in political wink wink theater where they effectively have to entertain every single harebrained idea that the right flank has to placate them. the question is, at the end of the day, can they bring them back from the brink? we saw john boehner fail there. his grasp seems to be loosening. . you would think that something would bring them back from the precipice, but i think the country, we get less and less convinced by the day that...
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Jan 12, 2013
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because the debt ceiling represents spending that is already appropriated by congress. republicans say they want to trade it dollar for dollar, every spending cut has to be measured by the increase in the debt ceiling, but there is already some weakening republican ranks about whether they will go through. forcing a dae fault on the debt would be catastrophic to the country. it's very hard to hold that up as a hostage. >> we look at march 1st as a drop dead deadline. but you write that the government will be unable to pay its bills sometime between february 15th and march 1st. what does changing the timetable do to things? >> we don't know an exact date. that date from the bipartisan policy center, basically measuring the cash flow to the government. we're in an uncertain season, where we had the big fight over the fiscal cliff and tax revenue coming in, and there are tax refunds sent out, it creates a balance of how much money the treasury can keep going and the government coffers and not precisely clear when that will basically run out we hit the debt limit on decembe
because the debt ceiling represents spending that is already appropriated by congress. republicans say they want to trade it dollar for dollar, every spending cut has to be measured by the increase in the debt ceiling, but there is already some weakening republican ranks about whether they will go through. forcing a dae fault on the debt would be catastrophic to the country. it's very hard to hold that up as a hostage. >> we look at march 1st as a drop dead deadline. but you write that...
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Oct 9, 2013
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>> you hear on every newscast if we don't raise the debt ceiling we will default on our debt. >> there is no reason for us to default. >> we won't. >> all this talk about a default has been a lot of demagoguery. >> what he is saying there is that it is false demagoguery. this is increasingly becoming the new republican normal. denialism about the consequences of breaching the debt ceiling? >> i just wanted you to respond to melody. >> yeah. i would say no. >> do you think the denialists have a point? >> the denialists, man. they kept saying they believe in nothing. >> or do you think that a breach of the debt ceiling would be catastrophic? >> this is reckless. >> we all really enjoy that. let's get right to our panel and joining us now, krystal ball. and jonathan capehart. i am fascinated in a lot of ways. the extent, krystal, could which they can hang on to a delusion is remarkable. and up until now what you have seen is republicans insisting they can get rid of the affordable care act, law of the land, but they can get rid of it by shutting down the government. now that that hasn't h
>> you hear on every newscast if we don't raise the debt ceiling we will default on our debt. >> there is no reason for us to default. >> we won't. >> all this talk about a default has been a lot of demagoguery. >> what he is saying there is that it is false demagoguery. this is increasingly becoming the new republican normal. denialism about the consequences of breaching the debt ceiling? >> i just wanted you to respond to melody. >> yeah. i would say...
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Sep 20, 2013
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if you don't raise the debt ceiling, america can't pay its bills. since the 1950s, congress has always passed it. every president has signed it. democrats, republicans, ronald reagan, lyndon johnson, it doesn't matter, this is just a routine thing that you got to do so that treasury can pay the bills. if congress doesn't pass this debt ceiling in the next few weeks, the united states will default on its obligations. that's never happened in american history. basically america becomes a deadbeat. if the world sees america not paying its bills, then they will not buy debt treasury bills from the united states or if they do, they'll do it at much higher interest rates. that means somebody wanted to buy an f-150 will have to pay much higher interest rates eventually, which means you will sell less cars. that's just one example of how profoundly destructive this could be. this is not some abstract thing. this is important. raising the debt ceiling is not the same as approving more spinding. any more than making your monthly payments adds to the total cos
if you don't raise the debt ceiling, america can't pay its bills. since the 1950s, congress has always passed it. every president has signed it. democrats, republicans, ronald reagan, lyndon johnson, it doesn't matter, this is just a routine thing that you got to do so that treasury can pay the bills. if congress doesn't pass this debt ceiling in the next few weeks, the united states will default on its obligations. that's never happened in american history. basically america becomes a...
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Oct 16, 2013
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ceiling or rather continuation of the government, he's basically consigning himself to every two months another government shutdown, every two months something to do with the debt, every two months something else to attack obama care. they're not going to stop until they've won. if they get a piece of obama care, they'll come back for a leg, an arm, the torso, the head. they're not going to stop because if they keep winning. why does he join the group? you say don't do it. but tell me why he's is doing it. there's no future in it. >> i don't know why he's doing it other than to feel in the end he's going to get people to the table. >> when's he going to lead? >> i think we're at a point here where boehner says either yes i'm just going to stand with the caucus and we're going to watch this thing come to its inevitable end which has catastrophic effects, or he says i sacrifice my speakership. in other words, i'm going to have to do what joan said. i'll have to go to nancy pelosi and take 15 or 20 republicans with me who will cast this vote and get this done that way. then it's over. beca
ceiling or rather continuation of the government, he's basically consigning himself to every two months another government shutdown, every two months something to do with the debt, every two months something else to attack obama care. they're not going to stop until they've won. if they get a piece of obama care, they'll come back for a leg, an arm, the torso, the head. they're not going to stop because if they keep winning. why does he join the group? you say don't do it. but tell me why he's...
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Oct 14, 2013
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that is reducing this $85 billion that is spent every month buying bonds. now the talk that we may go december or january for tapering to begin which would reflect a normalization of the central bank's interest rate policy. but, of course, as long as the shutdown continues to damage the economy, then tapering is potentially pushed back. >> now is the point we can track the ripple effect in terms of uncertainty in spending for everyday americans. >> yeah, this is fascinating. a survey done in the washington region indicating savings have increased both deposits from companies and individuals are going up and on the face of it that's a good news story, people are being cautious. but the other side of that story is that is money that is not being spent on goods and services to grease the wheels of the economy so you can see how concerns are creating cautiousness over the shutdown and that is going to have an impact on the spending that takes place on the economy. so it is not a good story for those who are running businesses in the usa at the moment. back to.
that is reducing this $85 billion that is spent every month buying bonds. now the talk that we may go december or january for tapering to begin which would reflect a normalization of the central bank's interest rate policy. but, of course, as long as the shutdown continues to damage the economy, then tapering is potentially pushed back. >> now is the point we can track the ripple effect in terms of uncertainty in spending for everyday americans. >> yeah, this is fascinating. a...
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Oct 8, 2013
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the debt ceiling, we will default on our debt. we won't. we'll continue to pay our interest. we'll continue to redeem bonds. and we'll issue new bonds to replace those. so that -- it's not entirely accurate. >> what's your reaction to that, congressman? >> well, i think he ought to just get in his car and drive up to the sage of omaha and have a conversation with mr. buffett, who really understands finance and obviously the good doctor doesn't have a clue what national, international finances are all about. he is absolutely dead wrong. this is a major crisis. if the united states were to default, it is a default crisis of unknown proportions, because never in the history of this country has the united states not been able to pay. and, by the way, these are debts, these are obligations that are racked up by us in congress over the last century. so we are going to pay our debts, unless -- unless speaker boehner has his default crisis and it's in his hands. he is the man that's controlling this entire game. >> it is in his hands and
the debt ceiling, we will default on our debt. we won't. we'll continue to pay our interest. we'll continue to redeem bonds. and we'll issue new bonds to replace those. so that -- it's not entirely accurate. >> what's your reaction to that, congressman? >> well, i think he ought to just get in his car and drive up to the sage of omaha and have a conversation with mr. buffett, who really understands finance and obviously the good doctor doesn't have a clue what national,...
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Jan 8, 2013
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. >> is the boehner rule going to be in place here, the boehner rule being every dollar raising the debt ceiling will require one dollar of spending cuts over the next ten years. do you think john boehner can deliver on that to his party? >> i think he absolutely can deliver. he delivered on it last time. i think he'll be able to do it again. this is actually a fight with republicans not only anxious for but needs to happen. the president has presided over four $1 trillion deficits in a row. never presented a budget that any member of his own party was willing to vote for. the democratic senate hasn't produced a budget at all in three years. come on, it's time -- revenue portion of this has been settled in the fiscal cliff deal. i cooperated with the administration on that, a lot of my colleagues did as well. i think we've shown a great deal of good faith. it's time for the president to come across and get serious about the spending cuts and reform he said is necessary. >> does that mean if the boehner rule goes into in effect that this deal would mean some type of review monthly? every
. >> is the boehner rule going to be in place here, the boehner rule being every dollar raising the debt ceiling will require one dollar of spending cuts over the next ten years. do you think john boehner can deliver on that to his party? >> i think he absolutely can deliver. he delivered on it last time. i think he'll be able to do it again. this is actually a fight with republicans not only anxious for but needs to happen. the president has presided over four $1 trillion deficits...
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. >> and the debt ceiling is not raised. the second best thing -- >> we have enough money coming in every week to pay our debt to keep from defaulting. >> it's your job to raise the debt ceiling, louie gohmert. congress must act or the country defaults. if louie gohmert wants us to believe his perns ignorance is grounds for the president's impeachment, he can keep on pretending. [ man ] on december 17, 1903, the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪ help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch
. >> and the debt ceiling is not raised. the second best thing -- >> we have enough money coming in every week to pay our debt to keep from defaulting. >> it's your job to raise the debt ceiling, louie gohmert. congress must act or the country defaults. if louie gohmert wants us to believe his perns ignorance is grounds for the president's impeachment, he can keep on pretending. [ man ] on december 17, 1903, the wright brothers became the first in flight. [ goodall ] i think...
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Jan 2, 2013
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. >> if we can find republicans to join with us and quit playing games with the debt ceiling and quit this roadrunner mentality of finding a cliff in every episode of congress, i think we can get this done. >> the republicans are saying the democrats have to realize they have to quit spending. it doesn't sound any different than it did before. we've got a new congress but generally the makeup isn't significantly different and we saw these negotiations weren't done by the rank and file anyway. do you have a sense at this point, can one of these get done easily, or we're going to fight over the others or is this just one nightmare after another? >> i don't know that any of these can get done easily at this point. everybody's taking a breath and they're going to try to reassess their leverage going into this new congress. when you look at kind of where the republicans are come, they feel like particularly in their negotiations with the president, that this was not, you know, a good faith effort on behalf of the white house. you know, i have a story in national courage right now, me and m
. >> if we can find republicans to join with us and quit playing games with the debt ceiling and quit this roadrunner mentality of finding a cliff in every episode of congress, i think we can get this done. >> the republicans are saying the democrats have to realize they have to quit spending. it doesn't sound any different than it did before. we've got a new congress but generally the makeup isn't significantly different and we saw these negotiations weren't done by the rank and...
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Jan 17, 2013
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doesn't going through a debt ceiling hostage crisis, as john says, every month only threaten the very recovery that we're now starting to experience? >> exactly. and that's the thing that from an economic perspective and a fiscal perspective i think is most crazy about that idea. just lurching from crisis to crisis. and let me talk a little bit about the deficit implication. allegedly these guys are saying they want to try to help our debt situation. the debt held by the public is about $10 trillion. that makes the math kind of easy. if we lurch from crisis like this every couple of months, at some point our creditors, the folks who lend ution money, are going to insist on an interest rate premium. suppose it goes up 0.1%, ten basis points. that is equivalent to $10 billion more of debt obligations, and the last time we even bellied up to this debt ceiling debate according to the bipartisan policy center, it cost us about $19 billion over ten years because of the very interest rate affect i'm defining. this is a manufactured crisis mentality with the goal of disparaging government and
doesn't going through a debt ceiling hostage crisis, as john says, every month only threaten the very recovery that we're now starting to experience? >> exactly. and that's the thing that from an economic perspective and a fiscal perspective i think is most crazy about that idea. just lurching from crisis to crisis. and let me talk a little bit about the deficit implication. allegedly these guys are saying they want to try to help our debt situation. the debt held by the public is about...
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Oct 10, 2013
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with the debt ceiling deadline just days away, a week from today, congresswoman, we have "the washington post" chris cilizza is saying every member of congress needs to see this chart. the last time the impact on consumer confidence was far greater thannant 11th and on par with the lehman collapse. do you think that people -- that that resonates? i mean, is short-term memory loss so common up there? >> well, the short-term memory loss and there's attention deficit disorder that plagues the members of congress. i will say this, though. they look at polls. and the polls are devastating. in terms of what the american people think of congress right now. we've got to get our act together. and i'm one that believes that we will come halfway. but we're not going to hold the economy hostage. we're not going to hold the american people hostage, and we are not going to allow the republicans to obsess continuously about the affordable care act. that is not what this is about right now. >> there is some cracks in the unity, though, of democrats, division because yesterday eleanor holmes norton confr
with the debt ceiling deadline just days away, a week from today, congresswoman, we have "the washington post" chris cilizza is saying every member of congress needs to see this chart. the last time the impact on consumer confidence was far greater thannant 11th and on par with the lehman collapse. do you think that people -- that that resonates? i mean, is short-term memory loss so common up there? >> well, the short-term memory loss and there's attention deficit disorder that...
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few months, by the way, the debt ceiling comes up this summer and hard to see how they work out of the rut and president obama mapped out an ambitious second term agenda. in terms of taking on guns, immigration. there's also a question mark about how he gets some of those larger goals passed when washington is constantly stuck in this cycle. toure? >> indeed, indeed. i love you used the cycle in your answer. very nicely done, kristen. >> three times. >> extra points for that. >> we'll have you back. you're a keeper. >> reporter: i'm glad you noticed. >> nbc's kristen welker, thank you. >> thank you. >>> back today with us, favorite emcee, michael crowly at "time" and turns 90 this week. >> wow. >> congrats to you and your colleagues. >> you look great for 90. >> you guys do -- >> 90 years young. >> don't look a day over 35. there's an interesting tweet this morning. president and congress need marriage counseling and if the president and congress are daddy and daddy or daddy and mommy then america's the rest of the kids and we're not ma mad about sequester deal. so how did we get here?
few months, by the way, the debt ceiling comes up this summer and hard to see how they work out of the rut and president obama mapped out an ambitious second term agenda. in terms of taking on guns, immigration. there's also a question mark about how he gets some of those larger goals passed when washington is constantly stuck in this cycle. toure? >> indeed, indeed. i love you used the cycle in your answer. very nicely done, kristen. >> three times. >> extra points for that....
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>> if and buts were can be enoughs every day would be christmas. >> debt threats. if congress can't strike a deal, treasury secretary jack lew has this message for the lawmakers flirting with that fiscal cliff. >> we've never been there and i think anyone who suggests knows exactly what that means would be projecting after 224 years of the history paying all of our bills what happens if we stop paying all our bills. >> the senate has just now joined the house, voting to approve the pentagon paying death benefits during the shutdown despite the lack of appropriations. now, will the president sign that legislation? >> well, when did they all know about the benefits freeze? you won't believe what the pentagon had warned days before the shutdown. >>> good day, i'm andrea michelle in washington where speaker boehner is expected to walk into the white house this afternoon with a short-term solution to avoid defaulting on our national debt. but we are still nowhere near a solution to opening the federal government. texas congressman chairs the committee and will be at the
>> if and buts were can be enoughs every day would be christmas. >> debt threats. if congress can't strike a deal, treasury secretary jack lew has this message for the lawmakers flirting with that fiscal cliff. >> we've never been there and i think anyone who suggests knows exactly what that means would be projecting after 224 years of the history paying all of our bills what happens if we stop paying all our bills. >> the senate has just now joined the house, voting to...
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87 dead americans every day and the fiscal cliff or debt ceiling is more important than 87 families burying their children and family members every day? that is immoral. and the nra is immoral. and let's face it. the gun industry controls congress and until the people take back their congress, it's going to be more massacres, more gun sales, more money back to the nra supporters in congress. >> let's get in you on this, michael. there are conservative groups backing this gun appreciation day. >> yeah. >> but for those who think it's just republicans or conservatives who are so-called gun rights advocates that's not the case. i want to play freshman senator highcamp. she was on abc's "this week," their sunday morning program. >> i think you need to put everything on the table but what i hear from "the washington post" and white house, that's way in extreme of what i think is necessary or even should be talked about. and it's not going to pass. >> certain things are not going to pass and the things she was referring to listed as possible proposals from the president, assault weapons, magazine
87 dead americans every day and the fiscal cliff or debt ceiling is more important than 87 families burying their children and family members every day? that is immoral. and the nra is immoral. and let's face it. the gun industry controls congress and until the people take back their congress, it's going to be more massacres, more gun sales, more money back to the nra supporters in congress. >> let's get in you on this, michael. there are conservative groups backing this gun appreciation...
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Sep 28, 2013
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. >> so this becomes a way of governing, every time you have a debt ceiling, you have to go through this process. that goes against everything we stand for. we're better than that. >> it strikes me if democrats concede any point to the tea party at this point, it may not just be on the debt ceiling, they may go back and up other things they like. >> that's exactly right. >> thank you for standing strong and i hope the rest of the democrats stand strong with you. >> they will. >> all right. for the latest from the white house, we bring in kristin welker. what a day. >> what a day. >> i understand that the white house -- [ inaudible ] >> secretary jay carney, i'll read you a bit of it. he says quote any member of the republican peter who votes for this bill is voting for a shutdown. it's time for the house to listen to the american people and act in a way to pass a bill that keeps the government running and move on. we also got a statement from senior adviser dan fiver who said this, the house is about to veet to shut down the government. nothing more, nothing less. this administration at
. >> so this becomes a way of governing, every time you have a debt ceiling, you have to go through this process. that goes against everything we stand for. we're better than that. >> it strikes me if democrats concede any point to the tea party at this point, it may not just be on the debt ceiling, they may go back and up other things they like. >> that's exactly right. >> thank you for standing strong and i hope the rest of the democrats stand strong with you. >>...
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Oct 15, 2013
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the debt ceiling, we will default on our debt. we won't. we'll continue to pay our interest. >> we are not going to default from the public debt, but that doesn't mean that we have to pay every bill the day it comes in, 100 cents on the dollar. >> in fact, house republicans even passed a bill in may called the full faith and credit act, requiring the treasury to prioritize payments to creditors, rather than, say, medicaid payments to doctors, in the event of a debt ceiling breach. >> this bill requires, not allows, requires treasury to continue to pay principal and interest on existing debt if and only if we hit the debt ceiling before a deal is reached. this is a backstop that takes default off the table. >> now in isolation, that sounds almost reasonable, doesn't it? it's not. it's nonsense, and here's why. think for just a second about how massively complicated it is to deal with all of the money flowing through the united states government every single day. you've got intakes like payroll taxes and bond purchases coming in and
the debt ceiling, we will default on our debt. we won't. we'll continue to pay our interest. >> we are not going to default from the public debt, but that doesn't mean that we have to pay every bill the day it comes in, 100 cents on the dollar. >> in fact, house republicans even passed a bill in may called the full faith and credit act, requiring the treasury to prioritize payments to creditors, rather than, say, medicaid payments to doctors, in the event of a debt ceiling breach....